Homecor EIN 38-3281993

Homecor

EIN  38-3281993 Public charity (501(c)(3)) Holland, MI Founded 1996
Form 990 (PDF) Compare with another nonprofit →
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Size
<$100K
What they do
Renovates homes to improve Holland, Michigan's central city neighborhoods.
Leadership
Jake Norris · Director
Money in and out
$68K revenue, $52K expenses
Bottom line
100% program efficiency

Renovates homes to improve Holland, Michigan's central city neighborhoods. For fiscal year 2025 it reported $68K in revenue, $52K in expenses, and $584K in net assets.Pt I

Where the money goes · FY2025
Total revenue
$68K
Pt VIII · Ln 12
Total expenses
$52K
Pt IX · Ln 25
Net assets
$584K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $16K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs0% vs prior filing year
Operating runway
171.6mo
months of highly liquid reserves at operating expense rate▲ +174% vs prior filing year
Surplus margin
+23%
revenue over expenses, this year▼ -62% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$68K
FY2025▼ -54%
Expenses
$52K
FY2025▼ -8%
Total assets
$859K
FY2025▲ +2%
Total liabilities
$275K
FY20250%
Total revenue
$68K
Pt VIII · Ln 12
Total expenses
$52K
Pt IX · Ln 25
Net assets
$584K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$16K
Total assetsPt X · Ln 16$859K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

2 program services account for $52K of program spending, described in the organization's own filed words · FY2025.
01

Provide grants to homeowners to assist them in repairing their homes

$52Kprogram expense
02

Purchase, renovate, and sell distressed homes to owner occupants.

$274program expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHomecor
EINHdr · item D38-3281993
Principal addressHdr · item CHolland, MI
WebsiteHdr · item Jwww.homecor.org
Year of formationHdr · item L1996
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S21)
Ruling yearIRS BMFJun 1996

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants141%$96K
Investment income$35
Total revenueLn 12$68K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$52K
Total functional expensesLn 25$52K

Balance Sheet

Part X · end of year
CashLn 1$744K
Total assetsLn 16$859K
Total liabilitiesLn 26$275K
Total net assetsLn 32$584K
Months of cash on handcomputed171.6

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $744K · Operating expenses/yr $52K
171.6 months
Where the money goes
Program services
Program services $52K · Total expenses $52K
100%
Management & General
Management & general $0 · Total expenses $52K
0%
Fundraising
Fundraising $0 · Total expenses $52K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $107K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $96K · Total revenue $68K
141%
Government reliance
Government grants $0 · Total revenue $68K
0%
Earned-income share
Program service revenue $0 · Total revenue $68K
0%
Investment reliance
Investment income $35 · Total revenue $68K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $52K
0%
Growth & trend
Revenue growth (YoY)
This year $68K · Prior year $149K
-54%
Revenue CAGR
FY2020 $147K · FY2025 $68K
-14%
Net-asset trend (YoY)
End of year $584K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $68K · Expenses $52K
+23%
Liabilities-to-Assets
Total liabilities — · Total assets $859K
Net-asset ratio
Net assets $584K · Total assets $859K
68%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $859K
0%
People & payroll
Highest Reported Total Compensation
Individual Jake Norris · Reported title Director · Highest reported compensation $0 · Total expenses $52K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $52K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Revenue growth -54%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$4K
Grants paid · 6 grants · $332K · 2020–2025
Unitemized GrantFY2025$41,958
Unitemized GrantFY2024$45,345
Unitemized GrantFY2023$88,752
Unitemized GrantFY2022$68,242
Unitemized GrantFY2021$41,063
Unitemized GrantFY2020$46,644

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$68K revenue · viewing · ⤓ 990 PDF
FY2024$149K revenue · ⤓ 990 PDF
FY2023$53K revenue · ⤓ 990 PDF
FY2022$54K revenue · ⤓ 990 PDF
FY2021$63K revenue · ⤓ 990 PDF
FY2020$147K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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